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The base mining rate halved when Pi crossed 10 million engaged Pioneers! Your mining rate will adjust with your next session. The halving protects Pi’s scarcity. Mine at a higher rate while you can. The mining rate will either halve or fall to zero when Pi reaches 100M engaged Pioneers, and possibly at Mainnet in a year. Don’t miss out! 🙂 Read our analysis and plans.
翻译:
当Pi突破1000万时,基础采矿率减半!您的采矿率将与您的下一个会话调整。这种减半保护了圆周率的稀缺。趁你还来得及,以更快的速度来我的。当Pi达到1亿雇佣开拓者时,开采率将减半或降至零,可能在一年内达到主网。不要错过!阅读我们的分析和计划。
This post is composed of 3 sections. Feel free to jump to the section that interests you.
Pi’s original economic model and mining mechanism are to strike a balance between access and scarcity. While aiming to be the most inclusive and widespread digital currency in the world, Pi tries to achieve a level of scarcity through a mining mechanism where the base mining rate halves when the network size increases by 10X, and the base mining rate based on new minting will fall to zero when the network size reaches a certain point. So which point of the network size is the question here. Even though in our White Paper, we specified the network size to be at least 100 million people, the Core Team had left the decision open, as to whether we will continue or stop mobile mining at the mark of 10 million network size, because back then we lacked data in network growth speed and engagement, and in the technical and ecosystem progresses. Today we’ve crossed the mark of 10 million engaged Pioneers and need to make a decision on whether the base mining rate halves or falls to zero. Some Pioneers may have misunderstood the purpose of this question and thought this was a question about whether to stop the project and asked us not to give up. Don’t worry. We’re not giving up, and we’re working tirelessly every moment towards our goals for Pi. We want to clarify that the purpose of the discussion has nothing to do with whether the project continues or stops, but is to make a decision that affects the growth of the Pi Network, the supply of Pi, the Pi ecosystem-building and whether it will eventually turn into an inclusive global economy.
The Core Team’s decision on this question is based on data and analysis that we have about the network and ecosystem, input from the community, experts’ views and Pi’s vision and mission, much of which will be presented below. In seeking for community input on this question, one of the major community-wide discussions at the recent Pi Convention was on this subject, where the Core Team collected video submissions from vocal community representatives and text responses of forum participants in the in-app Topics. For the past few weeks, the Core Team has been processing the community responses on this matter, along with analyzing technical data about the network, reaching out to area experts who we know for feedback and evaluating the current circumstances against the vision and goals of Pi Network, in order to make this decision.
The community opinions about whether to halve or to stop mobile mining at 10M mark are split: For Pioneers who support stopping, their reasons are primarily that stopping mining at 10M would provide scarcity and that it might take long to reach 100M. For Pioneers who support halving, their reasons include that halving would allow the network to continue growing and that stopping now would harm the ecosystem building. Of course, from both sides of the Pioneers, creative ideas were proposed about what we could do to mitigate any negative effects of either side of the decision, and some of such ideas are incorporated into the Core Team’s analysis below.
为了寻求社区对这个问题的意见,在最近的Pi大会上,社区范围内的主要讨论之一就是关于这个问题的,核心团队收集了社区代表在应用内话题上的发言视频和论坛参与者的文本回复。
在过去的几周里,核心团队已经处理社会在这个问题上的反应,以及对网络分析技术数据,接触区域专家我们知道反馈和评估当前形势下对π网络的愿景和目标,为了做出这个决定。社区意见概览对于是否在1000米的时候减少一半或者停止移动采矿,社区的意见有分歧:对于那些支持停止采矿的先驱们来说,他们的主要原因是在1000米的时候停止采矿会造成稀缺,而要达到100米可能需要很长时间。对于那些支持减半的先驱们来说,他们的理由包括:减半可以让网络继续增长,而现在停止会损害生态系统的建设。当然,双方的先驱者都提出了创造性的想法,关于我们可以做些什么来减轻任何一方的负面影响,其中一些想法被纳入了核心团队下面的分析中。决定在对上述所有数据进行了彻底分析后,
After thorough analysis of all data mentioned above, the Core Team has decided that the base mining rate is halved at the mark of 10 million engaged Pioneers. The base mining rate will be 0.19634954085 (π/16), including the 0.09817477042 (π/32) from being a Pioneer and up to 0.09817477042 (π/32) from being a contributor to the security circles (These are the precise numbers used for all computations of mining rewards, while the display in-app approximate these rates to the their first two decimal points). The new halved base mining rate will take effect after the completion of your respective current mining sessions. Below are two major sections that we would like to share with the community: 1) reasons and analysis for making such a decision, and 2) plans ahead especially for any concerns about this decision.
核心团队决定将基础挖掘率减半,减少到1000万。基本开采率将0.19634954085(π/ 16),包括0.09817477042(π/ 32)从一个先锋和0.09817477042(π/ 32)从一个贡献者的安全圈(这些都是矿业的精确数字用于所有计算奖励,同时显示应用内近似这些利率前两个小数点)。新的减半的基础挖掘率将在您当前的挖掘会话完成后生效。
以下是我们想与公众分享的两个主要部分:1)做出这样一个决定的原因和分析,以及2)提前计划,特别是对于任何与这个决定有关的担忧。
1.为决策进行核心团队分析白皮书里有什么?
As mentioned previously, the original Pi White Paper specified the network size as at least 100 million people. Because we did not know how fast the network would grow, and in case that it would take years to reach 10 million, we left the decision open about whether mobile mining stops at 10 million. The reason why the length of time to reach a certain halving network size matters to the supply is that the longer the whole network stays mining on a higher mining rate, the more Pi is minted. However, in fact, it only took us a bit more than one year to grow from the last halving event of 1 million Pioneers to the 10 million engaged Pioneers mark. The network growth speed is faster than we originally expected.
如前所述,原始的Pi白皮书规定网络规模至少为1亿人。因为我们不知道这个网络的增长速度会有多快,而且万一需要几年时间才能达到1000万,我们没有决定移动采矿是否会停止在1000万。网络规模减半的时间长短之所以对供应很重要,是因为整个网络的采掘时间越长,采掘率越高,产生的Pi就越多。然而,事实上,我们只花了一年多一点的时间就从上一次的100万先驱者减半到1000万参与的先驱者。网络的增长速度比我们原先预期的要快。
稀缺性
The primary reasoning for stopping at 10 million is that it will increase the scarcity of the currency. Scarcity is one major mechanism that currencies use to control and increase their value. The scarcity of Bitcoin contributes to its legend as a store of value, just like digital gold. However, history doesn’t repeat exactly, and the path to value creation by Bicoin cannot be exactly copied due to changed historical time and circumstances. There is only one Bitcoin in history, and even bitcoin bootstrapped its initial value from utility due to being the first functional distributed cryptocurrency that supports secure p2p pseudo-anonymous transactions and self-sovereignty of assets. The pure reliance on controlling supply and scarcity will not lead to value creation, as evidenced by the deaths of many other cryptocurrencies exclusively focusing on building supply-oriented token models in 2017. It is too often when discussing the value of cryptocurrencies that people primarily focus on supply while neglecting the other major variable in the equation about value: demand. At Pi Network, we believe the future value creation for cryptocurrencies will come from creating demands through utilities while having the proper mechanism in place to keep supply in check.
In addition to the questionable effectiveness of only relying on scarcity, there is also the problem of being too scarce which would harm the ability for the currency to facilitate value creation processes – utilities. Being too scarce means that most people would hoard and hold on to Pi instead of spending it; without spending Pi, the currency would be limited in its ability to support transactions of goods and services, which are the means by which Pi Network hopes to bootstrap its value. How can we create an ecosystem of utilities in the scenario where no one would want to spend Pi? Utilities can only be created when many trials of applications are launched where Pioneers are willing to spend their Pi to transact for goods and services. Without utilities through applications, the ultimate value will drop and will give room for people to potentially manipulate the currency in the meantime such as pump-and-dumps, harming the ecosystem and the currency itself.
Also, the scarcity argument for completely stopping mining early may also neglect the fact that continuing mobile mining after 10 million Pioneers is not equal to ignoring scarcity. It’s the opposite, because the base mining rate halves after 10 million engaged Pioneers and maintaining a certain level of scarcity is what Pi’s halving mechanism was designed for. So we think halving right now is the proper measure to continue network growth while keeping the scarcity in check. Scarcity as the reason to justify a complete stop of mobile mining is insufficient and could actually be harmful.
停止在1000万活跃用户的主要原因是,这将增加货币的稀缺性。
稀缺性是货币用来控制和增加其价值的一个主要机制。比特币的稀缺性促成了它作为一种价值储存手段的传奇,就像数字黄金一样。但是,历史并没有完全重复,历史的时间和环境的改变,使得Bicoin的价值创造之路无法完全复制。历史上只有一种比特币,甚至比特币的初始价值都是从公用事业起步的,因为它是第一种支持安全的p2p伪匿名交易和资产主权的功能性分布式加密货币。纯粹依赖于控制供应和稀缺不会带来价值创造,2017年许多专注于构建以供应为导向的令牌模型的其他加密货币的死亡就证明了这一点。
在讨论加密货币的价值时,人们往往把重点放在供应上,而忽略了价值等式中的另一个主要变量:需求。在Pi Network,我们相信加密货币未来的价值创造将来自于通过公共事业创造需求,同时拥有适当的机制来控制供应。
In addition to the consideration of scarcity, we also evaluated the decision in terms of Pi’s vision and the goals. The vision of Pi is to build an inclusive, wide-spread and valuable cryptocurrency.
With over 10 million engaged members, Pi constitutes today one of the world’s largest crypto communities. However, even the entire crypto-world is very small compared to the world’s population. Pi’s vision is to reach way beyond the confined boundaries of the crypto-world. We want to achieve true mass adoption and mass utility, and our strategy so far shows that we have indeed attracted not only existing crypto-savvy members but also expanded the boundaries to attract people interested in cryptocurrencies who are completely new to the space.
除了只依赖稀缺的有效性值得怀疑之外,还有稀缺的问题,这将损害货币促进价值创造过程的能力——公用事业。太稀缺意味着大多数人会囤积并持有圆周率,而不是花掉它;如果不消费Pi,货币支持商品和服务交易的能力就会受到限制,而这正是Pi网络希望引导其价值的方式。在没有人愿意花费Pi的情况下,我们怎样才能创建一个公用事业的生态系统呢?只有当先锋们愿意花费他们的Pi来交易商品和服务的地方启动了许多应用试验,公用事业才能被创造出来。如果没有应用程序的效用,最终价值将会下降,同时会给人们潜在的操纵货币的空间,例如抽水和倾倒,破坏生态系统和货币本身。
此外,早期完全停止开采的稀缺论点可能也忽视了一个事实,即在1000万先驱者之后继续移动开采并不等于忽视稀缺。恰恰相反,因为在1000万雇佣的先驱者之后,基础采矿率减半,并且维持一定程度的稀缺是Pi的减半机制设计的目的。因此,我们认为现在将网络数量减半是继续增长的正确方法,同时也能控制网络的稀缺程度。稀缺作为完全停止移动采矿的理由是不够的,实际上可能是有害的。
这个决定如何影响Pi的愿景和使命?
除了考虑稀缺性,我们还根据Pi的愿景和目标来评估这个决定。Pi的愿景是建立一种包容的、广泛传播的、有价值的加密货币。Pi拥有超过1000万的会员,是当今世界上最大的社区之一。然而,与世界人口相比,即使是整个加密世界也是非常小的。派的梦想是超越神秘世界的局限。我们想要实现真正的大规模采用和大规模使用,到目前为止,我们的策略表明,我们不仅吸引了现有的精通加密的成员,而且还扩大了边界,以吸引对加密货币感兴趣的人,这些人对这个领域是完全陌生的。
A network of 10 million people, as compared to the total 7 billion in the world, still needs to grow to become truly “inclusive” or “wide-spread”. However, if we stop mobile mining right now, it would substantially curb the network growth because right now the ecosystem is yet to be complete and the Mainnet is not launched. It is a major concern raised in the community responses that stopping mobile mining at 10 million would kill the growth and eventually the network. Our careful analysis showed that it is more important to expand the Pi Network to tens of millions of people than to limit network size with the sole purpose to limit the supply. We would want to avoid a scenario of a self-collapsing tragedy of the commons: people would like to exclude others from having Pi, thus others would not care about it, destroying its value for the original members and creating the tragedy of the commons.
The goals of Pi are to create a viable global economy where people would use Pi to transact for goods and services, and which in turn, creates and backs the value for Pi currency. It’s marvelous that we achieved the 10 million network size, which makes us one of the biggest cryptocurrency networks in the space. However, it would be even more probable for us to achieve the network effect and large economic volume if we can grow even bigger and comparable to networks of traditional social networks or technology giants, where enough goods and services are offered and enough people are willing to purchase. The comparables in traditional social networks and e-commerce tech giants where organic economic activities occur and value is created are Facebook with 2.7 billion people, Amazon with over 150 million active customers, WeChat with 1.17 billion users, and Alibaba with over 720 million active customers. (All numbers here are based on top Google search results.) We hope Pi will have a large enough network basis for creating economic volumes to sustain its viability.
一个拥有1000万人口的网络,与世界70亿人口相比,还需要发展成为真正的“包容性”或“广泛性”。然而,如果我们现在停止移动采矿,它将大大抑制网络的增长,因为现在生态系统还没有完成,主网络还没有启动。社区回应中提出的一个主要担忧是,如果停止移动采矿的规模达到1000万,将会扼杀增长,并最终扼杀该网络。
我们仔细的分析表明,把Pi网络扩大到数千万人比仅仅为了限制供应而限制网络规模更重要。我们会想要避免一个公地自我崩溃的悲剧场景:人们想要排除其他人拥有Pi,这样其他人就不会关心它,破坏了它对原有成员的价值,造成了公地的悲剧。
Pi的目标是创建一个可行的全球经济,在那里人们可以使用圆周率进行商品和服务的交易,从而创造和支持圆周率货币的价值。令人惊奇的是,我们的网络规模达到了1000万,这使我们成为了这个空间中最大的加密货币网络之一。
然而,如果我们能够发展得更大,能够与传统的社交网络或科技巨头的网络相媲美,提供足够的商品和服务,有足够多的人愿意购买,我们就更有可能实现网络效应和更大的经济体量。传统社交网络和电子商务科技巨头在有机经济活动和创造价值方面可以与之相比,Facebook拥有27亿人,亚马逊拥有超过1.5亿活跃客户,微信拥有11.7亿用户,阿里巴巴拥有超过7.2亿活跃客户。(这里所有的数字都是基于谷歌搜索结果。)我们希望Pi将有一个足够大的网络基础来创造经济容量,以维持其生存能力。
Furthermore, in the Industry Panel of the Pi COiNVENTION, one major theme that came up in community opinions was that we need to collaborate with traditional businesses including banks, tech giants, retailers (accepting Pi as the payments), and show what Pi Network can provide them, e.g. access to a network of crypto-ready people. Even though being a 10 million crypto-ready network is impressive, it would be even more impactful and more attractive for such traditional business if our network is bigger.
Thus, considering all above, we have decided that mobile mining continues after 10 million engaged Pioneers while halving the base mining rate.
此外,业内πCOiNVENTION面板,一个主要的主题,在社区的意见是,我们需要与传统企业合作包括银行、科技巨头,零售商(接受π为支付),和展示π网络可以提供,如crypto-ready人访问网络。即使是一个1000万的加密网络是令人印象深刻的,但如果我们的网络更大,它将会更有影响力,更有吸引力的传统业务。因此,考虑到以上所有因素,我们决定在有1000万采矿先驱者的情况下继续移动采矿,同时将基础采矿率减半。
价值计划:
To address some of the concerns that the community opinions expressed and the Core Team share about continuing mobile mining after the 10 million mark, we have the following plans or directions of plans.
创造需求和权力下放为了解决社区意见表达和核心团队分享的关于1000万以后继续移动采矿的担忧,我们制定了以下计划或计划方向。
To address some of the concerns that the community opinions expressed and the Core Team share about continuing mobile mining after the 10 million mark, we have the following plans or directions of plans.
我们希望同时加快维护和公用事业建设的速度。我们设置一个一年期的路线图来启动Pi主网,这意味着我们的目标是完成必要的技术工作和启动物流,如为先驱创造钥匙和钱包,分配更多kyc 2021年底推出Mainnet(一些物流可能继续即使Mainnet发射,因为它需要时间来完成这些过程对整个网络)。一旦初步的主网络路线图完成,我们将很快与社区分享。
In addition to the one-year roadmap to launch the Mainnet, we also want to design Pi currency sinks on the blockchain level, along with the Pi community. Potential ideas include: providing incentives to early Pioneers for staking or locking up their Pi in order to make more Pi down the line; creating various transaction fees that are either burnt, or being distributed appropriately such as being circulated back as a source of mining rewards to Pioneers instead of minting new currency. The details of such mechanisms are in flux. To determine which mechanism and what are the right configurations, we will be open to ideas and input from the Pioneers community, go through thorough analysis on their effects, or even run experiments on Testnet before making such decisions.
除了启动主网络的一年路线图,我们还想设计在区块链级别上的Pi货币汇,以及Pi社区。
潜在的想法包括:为早期开拓者提供奖励,让他们把Pi锁起来,以使更多的Pi继续下去;创造各种各样的交易费用,这些费用要么被烧掉,要么被合理分配,比如作为矿业先驱者的采矿奖励来源重新流通,而不是创造新的货币。这种机制的细节还在不断变化。为了确定哪种机制和什么是正确的配置,我们将开放思想和来自先驱者社区的输入,对它们的影响进行彻底的分析,甚至在做出这样的决定之前在Testnet上运行实验。
与此同时,我们希望通过Pi Apps平台,通过我们自己和第三方开发者,推动公用事业的建设。如果我们能够在大网之前实现大规模的实用程序,那将是理想的,尽管,除了核心团队的努力之外,大规模实用程序的实现还取决于所有先驱、第三方开发人员的贡献和协调,时机和偶然因素。在Mainnet发布之后,生态系统和公用事业的建设将会继续,而Mainnet可能会在创建公用事业方面带来更多的机遇和挑战。
关于移动采矿,正如很多先行者提到的,我们也同意,随着网络规模超过1000万,移动采矿的难度可能会增加。而不是仅仅每天点击一个按钮,网络需要更多的贡献来实现它的目标和愿景,所以所有的先驱者都有责任让Pi朝着目标前进,而不仅仅是核心团队。要想超越1000万网络的规模,Pi需要的不再是单纯的网络增长,还有上面分析过的许多其他因素:应用、效用以及使用Pi生产商品和服务的意愿。因此,作为一个精英管理系统,Pi应该奖励那些支持和培养它成功的活动和行为。因此,我们正在考虑许多先驱者关于如何增加挖掘Pi的难度的所有建议,并可能在1000万到1亿的网络规模之间引入相关机制。
After the Mainnet launches, mobile mining might end at that time, but it is not determined yet because there are possible solutions for it to continue for the sake of perpetuating our network growth. One possibility is to continue mobile mining after the Mainnet launch not through new minting, but by a source of Pi from fees and charges in the ecosystem mentioned above. Another possibility is adding an extra halving event for the base mining rate at the launch of Mainnet if the Mainnet comes earlier than the 100 million engaged Pioneers. This decision again depends on the circumstances at the Mainnet launch, including the speed of growth, how much Pi still relies on the growth of the network, and the maturity of the Pi ecosystem. We will revisit this question at the Mainnet launch, with the community input, to make the determination then.
在主网启动后,移动挖掘可能会在那个时候结束,但这还没有确定,因为有可能的解决方案让它继续下去,以保持我们的网络增长。一种可能是在主网发布后继续移动采矿,而不是通过新的采矿,而是通过上面提到的生态系统中的费用和收费的Pi来源。另一种可能性是,如果主网络比1亿先驱者来得早,则在主网络发布时增加基础挖掘率减半的额外事件。
这一决定同样取决于主流网络发布时的环境,包括增长速度、Pi在多大程度上仍然依赖于网络的增长,以及Pi生态系统的成熟程度。我们将在主网发布时再讨论这个问题,并与社区的意见一起做出决定。
Right now, we’re focusing on the two-pronged approach analyzed above: 1) to aim to launch the Mainnet based on a one-year roadmap, and 2) to fasten the speed in creating utilities. As for Pioneers, mine while you still can with contributions to what Pi needs to succeed, including creating utilities.
现在,我们正专注于上面分析的两方面的方法:1)以一年的路线图为基础启动主网络,2)加快创建公用事业的速度。作为先驱者,我的时候你仍然可以为Pi的成功做出贡献,包括创造实用工具。
(上述翻译来自谷歌,部分翻译节选)
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